Dearest reader,

This author wishes to inform you of this week’s most head-turning distressed news.

A flurry of trading was afoot as Strategic Value Partners (SVP) offered to stump up the cash for wood products manufacturer Pfleiderer. The news of a possible €80m to €100m equity cheque sent the SSNs up seven points yesterday (6 June). Investors in a fellow portfolio company of SVP’s Kloeckner Pentaplast seem to have got excited by the possibility of the sponsor’s generosity spreading as its SUNs have also been quoted 8 points higher in the past week at 58.4-mid today, as per 9fin’s data.

This author can also reveal that whispers and rumours on certain companies’ restructuring plans can be put to rest. German real estate company Demire revealed the terms of an A&E transaction for bonds maturing October. 9fin analyses the key terms. Another one cutting it close to the bone is ports operator R-Logitech, which is also asking to extend its bonds maturing in June by two years, according to a statement hot off the presses today (7 June).